I need help with part c Wildhorse, Inc. has $500,000, $0.85, no par value preferred shares (50,000 shares) and $1,000,000 of no par valuecommon shares outstanding (80,000 shares). No dividends were paid or declared during 2021 and 2022. The companywants to distribute $531,250 in dividends on December 31, 2023.(a)Calculate the amount of dividends to be paid to each group of shareholders (i.e., preferred and common), assumingthe preferred shares are non-cumulative and non-participating.(b)Your answer is correct.(c)Total dividendseTextbook and Media$Your answer is correct.Total dividendseTextbook and MediaYour answer is incorrect.Total dividendsPreferredCalculate the amount of dividends to be paid to each group of shareholders (i.e., preferred and common), assumingthe preferred shares are cumulative and non-participating.$Preferred42500Preferred$127500$Common$Common488750Calculate the amount of dividends to be paid to each group of shareholders (i.e., preferred and common), assumingthe preferred shares are cumulative and fully participating. (Round intermediate percentage calculationsto 3 decimal places, e.g. 15.251% and final answers to 0 decimal places, e.g. 1,225.)CommonAttempts: 2 of 3 used403750Attempts: 2 of 3 used

Wildhorse, Inc. has $500,000, $0.85, no par value preferred shares (50,000 shares) and $1,000,000 of no par value common shares outstanding (80,000 shares). No dividends were paid or declared during 2021 and 2022. The company wants to distribute $531,250 in dividends on December 31, 2023. (a) Your answer is correct. Calculate the amount of dividends to be paid to each group of shareholders (i.e., preferred and common), assuming the preferred shares are non-cumulative and non-participating. Preferred Common

Wildhorse, Inc. has $500,000, $0.85, no par value preferred shares (50,000 shares) and $1,000,000 of no par value common shares outstanding (80,000 shares). No dividends were paid or declared during 2021 and 2022. The company wants to distribute $531,250 in dividends on December 31, 2023. (a) Your answer is correct. Calculate the amount of dividends to be paid to each group of shareholders (i.e., preferred and common), assuming the preferred shares are non-cumulative and non-participating. Preferred Common

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter16: Retained Earnings And Earnings Per Share

Section: Chapter Questions

Problem 18E: Monona Company reported net income of 29,975 for 2019. During all of 2019, Monona had 1,000 shares...

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On January 1, 2019, Kittson Company had a retained earnings balance of 218,600. It is subject to a 30% corporate income tax rate. During 2019, Kittson earned net income of 67,000, and the following events occurred: 1. Cash dividends of 3 per share on 4,000 shares of common stock were declared and paid. 2. A small stock dividend was declared and issued. The dividend consisted of 600 shares of 10 par common stock. On the date of declaration, the market price of the companys common stock was 36 per share. 3. The company recalled and retired 500 shares of 100 par preferred stock. The call price was 125 per share; the stock had originally been issued for 110 per share. 4. The company discovered that it had erroneously recorded depreciation expense of 45,000 in 2018 for both financial reporting and income tax reporting. The correct depreciation for 2018 should have been 20,000. This is considered a material error. Required: 1. Prepare journal entries to record Items 1 through 4. 2. Prepare Kittsons statement of retained earnings for the year ended December 31, 2019.
Lyon Company shows the following condensed income statement information for the year ended December 31, 2019: Lyon declared dividends of 6,000 on preferred stock and 17,280 on common stock. At the beginning of 2019, 10,000 shares of common stock were outstanding. On May 1, 2019, the company issued 2,000 additional common shares, and on October 31, 2019, it issued a 20% stock dividend on its common stock. The preferred stock is not convertible. Required: 1. Compute the 2019 basic earnings per share. 2. Show the 2019 income statement disclosure of basic earnings per share. 3. Draft a related note to accompany the 2019 financial statements.
Monona Company reported net income of 29,975 for 2019. During all of 2019, Monona had 1,000 shares of 10%, 100 par, nonconvertible preferred stock outstanding, on which the years dividends had been paid. At the beginning of 2019, the company had 7,000 shares of common stock outstanding. On April 2, 2019, the company issued another 2,000 shares of common stock so that 9,000 common shares were outstanding at the end of 2019. Common dividends of 17,000 had been paid during 2019. At the end of 2019, the market price per share of common stock was 17.50. Required: 1. Compute Mononas basic earnings per share for 2019. 2. Compute the price/earnings ratio for 2019.
Hyde Corporations capital structure at December 31, 2018, was as follows: On July 2, 2019, Hyde issued a 10% stock dividend on its common stock and paid a cash dividend of 2.00 per share on its preferred stock. Net income for the year ended December 31, 2019, was 780,000. What should be Hydes 2019 basic earnings per share? a. 7.80 b. 7.09 c. 7.68 d. 6.73
Assume that as of January 1, 20Y8, Sylvester Con- suiting has total assets of $500,000 and total assets of $150,000. As of December 31, 20Y8, Sylvester has total liabilities of $200,000 and total stockholders’ equity of $400,000. (a) What was Sylvester’s stockholders’ equity as of January 1, 20Y8? (b) Assume that Sylvester did not pay any dividends during 20Y8. What was the amount of net income for 20Y8?
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Blossom, Inc. has $500,000, $0.50, no par value preferred shares (50,000 shares) and $1,000,000 of no par value common shares outstanding (80,000 shares). No dividends were paid or declared during 2021 and 2022. The company wants to distribute $273,500 in dividends on December 31, 2023. (a) Your answer has been saved. See score details after the due date. Calculate the amount of dividends to be paid to each group of shareholders (.e., preferred and common), assuming the preferred shares are non-cumulative and non-participating. Preferred Total dividends $ 25000 Common 248500 Attempts: 1 of 1 used